Allspring Global Investments Holdings LLC Sells 316,184 Shares of Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Allspring Global Investments Holdings LLC reduced its holdings in Teva Pharmaceutical Industries by 5.0%, selling 316,184 shares and retaining approximately 5.97 million shares worth $99.3 million.
• Analyst ratings for Teva have varied, with UBS Group and JPMorgan Chase upgrading their price targets to $26, while Weiss Ratings maintained a "sell" rating with a d- rating.
• Teva reported earnings of $0.66 per share for the last quarter, slightly above expectations, but fell short on revenue with $4.18 billion against an anticipated $4.34 billion.

Allspring Global Investments Holdings LLC decreased its position in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 5.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,967,504 shares of the company's stock after selling 316,184 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.52% of Teva Pharmaceutical Industries worth $99,299,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. CWM LLC increased its position in Teva Pharmaceutical Industries by 18.1% in the second quarter. CWM LLC now owns 4,995 shares of the company's stock worth $84,000 after buying an additional 767 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in Teva Pharmaceutical Industries by 30.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 35,274 shares of the company's stock worth $591,000 after buying an additional 8,192 shares in the last quarter. Aberdeen Group plc increased its position in Teva Pharmaceutical Industries by 4.9% in the second quarter. Aberdeen Group plc now owns 829,365 shares of the company's stock worth $13,900,000 after buying an additional 38,767 shares in the last quarter. Callan Family Office LLC purchased a new stake in Teva Pharmaceutical Industries in the second quarter worth about $506,000. Finally, Vontobel Holding Ltd. increased its position in Teva Pharmaceutical Industries by 5.5% in the second quarter. Vontobel Holding Ltd. now owns 719,676 shares of the company's stock worth $12,062,000 after buying an additional 37,455 shares in the last quarter. Hedge funds and other institutional investors own 54.05% of the company's stock.

Wall Street Analyst Weigh In

TEVA has been the subject of a number of analyst reports. UBS Group upped their price target on Teva Pharmaceutical Industries from $23.00 to $26.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Weiss Ratings restated a "sell (d-)" rating on shares of Teva Pharmaceutical Industries in a research report on Wednesday, October 8th. Wall Street Zen upgraded Teva Pharmaceutical Industries from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Finally, JPMorgan Chase & Co. upped their price target on Teva Pharmaceutical Industries from $23.00 to $26.00 and gave the stock an "overweight" rating in a research report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $25.57.

Teva Pharmaceutical Industries Stock Performance

NYSE:TEVA opened at $20.02 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 0.77 and a debt-to-equity ratio of 2.45. Teva Pharmaceutical Industries Ltd. has a 12-month low of $12.47 and a 12-month high of $22.80. The stock has a 50-day moving average price of $18.60 and a 200 day moving average price of $17.00. The stock has a market capitalization of $22.96 billion, a P/E ratio of -125.09, a P/E/G ratio of 1.10 and a beta of 0.71.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. Teva Pharmaceutical Industries had a positive return on equity of 46.10% and a negative net margin of 0.95%.The firm had revenue of $4.18 billion during the quarter, compared to analysts' expectations of $4.34 billion. During the same quarter last year, the business posted $0.61 earnings per share. The firm's revenue was up .3% on a year-over-year basis. Teva Pharmaceutical Industries has set its FY 2025 guidance at 2.500-2.600 EPS. Equities research analysts forecast that Teva Pharmaceutical Industries Ltd. will post 2.5 EPS for the current fiscal year.

Insider Activity at Teva Pharmaceutical Industries

In other Teva Pharmaceutical Industries news, insider Placid Jover sold 6,053 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $15.16, for a total transaction of $91,763.48. Following the completion of the transaction, the insider owned 6,774 shares in the company, valued at $102,693.84. This trade represents a 47.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Eric A. Hughes sold 52,742 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $15.16, for a total value of $799,568.72. The disclosure for this sale can be found here. Company insiders own 0.55% of the company's stock.

About Teva Pharmaceutical Industries

Teva Pharmaceutical Industries Limited develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, Israel, and internationally. It offers generic medicines in various dosage forms, such as tablets, capsules, injectables, inhalants, liquids, transdermal patches, ointments, and creams; sterile products, hormones, high-potency drugs, and cytotoxic substances in parenteral and solid dosage forms; and generic products with medical devices and combination products.

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